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I've done some searching on this subject recently and it seems to be a rather controversial subject.
Any strong opinions on this subject here on this thread? (sorry, I couldn't easilly find a debate on this subject within the search engine here)

I tend to NOT believe that the correct answer is simply that it is a matter of 'personal choice' or "psychologicaly benefecial" to many traders. I'm guessing that it is either a correct play or an incorrect one.

Peace,
Paige

Hi Paige,

I agree with you that to scale or not is a complex subject (and controversial subject).
I think both money management beliefs, strategy, trade setup and a traders past personal experience and a traders pyshcological makeup all come into play. So the best approach can depend on who your are, what your strategy is and confidence in the trade - that is the optimum approach varies.

Now on the things you mentioned like "initial balance" (I don't know exactly what you mean here), Volume Nodes (I'm only guessing here), VWAP (I do know what this is) and the TICK (also know this one) -- I just don't know what to look for here.

I'll admit to being a total nincompoop when it comes to volume! I can't make heads or tails of it! Sometimes I think I would be be better off to omit it off my charts althogeter. I know that it is extremely important, but I haven't figured out how to interpret it. It seems to give so many conflicting signals.

I try to put my stops and targets somewhat on the 'other side' of price congestion areas -- but volume eludes me as to how to incorporate it and how much weight to give it.

I'm very sorry if I have been a cause of taking this thread off-topic. I was drawn to this thread because I really want to learn to "make-it" someday as a trader and I had great admiration for many of the members who were contributiing to this thread.

Now on the things you mentioned like "initial balance" (I don't know exactly what you mean here), Volume Nodes (I'm only guessing here), VWAP (I do know what this is) and the TICK (also know this one) -- I just don't know what to look for here.

I'll admit to being a total nincompoop when it comes to volume! I can't make heads or tails of it! Sometimes I think I would be be better off to omit it off my charts althogeter. I know that it is extremely important, but I haven't figured out how to interpret it. It seems to give so many conflicting signals.

I try to put my stops and targets somewhat on the 'other side' of price congestion areas -- but volume eludes me as to how to incorporate it and how much weight to give it.

I'm very sorry if I have been a cause of taking this thread off-topic. I was drawn to this thread because I really want to learn to "make-it" someday as a trader and I had great admiration for many of the members who were contributiing to this thread.

Peace,
Paige

No problem, trading is all about learning. It doesn't happen overnight and is one of the most challenging professions to accomplish successfully. Of the items I mentioned, here is an interactive overview by the CME Group that will provide you with a detailed explanation. As for the indicators, they're all on here (futures.io (formerly BMT)) thanks to Fat Tails and Gomi. They're providing tools that vendors charge an arm and a leg for at no cost other than a futures.io (formerly BMT) membership.

No problem, trading is all about learning. It doesn't happen overnight and is one of the most challenging professions to accomplish successfully. Of the items I mentioned, here is an interactive overview by the CME Group that will provide you with a detailed explanation. As for the indicators, they're all on here (futures.io (formerly BMT)) thanks to Fat Tails and Gomi. They're providing tools that vendors charge an arm and a leg for at no cost other than a futures.io (formerly BMT) membership.

Now, I'm not going to tell you how to trade but these tools may be helpful for you in building or enhancing what you're currently doing.

Cheers,
PB

Ole come on @Private Banker share your knowledge..... Im kidding I have spoke to you and others recently Ive sorta been deep sea fishing. I believe in your responses and the use of ur wording. Nothing is easy in life if it was we'd all be at the status. lol

Thx for sharing

you gotta love the sunsets in Hawaii, Ive never been, but my guys did ironically for a gentleman who had homes there and Cali. Were you in the medical field at one time?

Ole come on @Private Banker share your knowledge..... Im kidding I have spoke to you and others recently Ive sorta been deep sea fishing. I believe in your responses and the use of ur wording. Nothing is easy in life if it was we'd all be at the status. lol

Thx for sharing

you gotta love the sunsets in Hawaii, Ive never been, but my guys did ironically for a gentleman who had homes there and Cali. Were you in the medical field at one time?

Lol! Thanks! Yeah, Hawaii is an amazing, beautiful place.

No, never in the medical field. I was a portfolio manager on the street for a few well known IB/PWM firms before going independent. Let's just say I've seen a lot of market cycles and seen a lot of wild events take place while being a market participant. Have walked away from a few limping but survived and learned a great deal in the course of doing so. Always happy to give tips on things to try and help newer traders.

As for trading methods, I feel it's very important for a trader to learn all sorts of methods and take what they like of them to create something that suites their preference and risk parameters. The CME Group's educational section is an excellent resource in addition to this forum. My method of trading may not work for someone else and vice versa. It's very difficult to train someone to see the market the way I see it because it comes down to experience which is something that can only come over time. Trading is a very personal, cognitive endeavor which is why you see so many emotions and opinions about this, that and the other thing. You just need to have an open mind and remain humble to develop something that works best for you.

No, never in the medical field. I was a portfolio manager on the street for a few well known IB/PWM firms before going independent. Let's just say I've seen a lot of market cycles and seen a lot of wild events take place while being a market participant. Have walked away from a few limping but survived and learned a great deal in the course of doing so. Always happy to give tips on things to try and help newer traders.

As for trading methods, I feel it's very important for a trader to learn all sorts of methods and take what they like of them to create something that suites their preference and risk parameters. The CME Group's educational section is an excellent resource in addition to this forum. My method of trading may not work for someone else and vice versa. It's very difficult to train someone to see the market the way I see it because it comes down to experience which is something that can only come over time. Trading is a very personal, cognitive endeavor which is why you see so many emotions and opinions about this, that and the other thing. You just need to have an open mind and remain humble to develop something that works best for you.

PB, I liked ur comment: Have walked away from a few limping but survived and learned a great deal in the course of doing so. This is so true I'm laughing as Im responding back.... You know I'm green I didnt start out watching the rodeo from the fence, I jumped in and got bucked off more times than I wanta count. OK Im going be serious for a min,,,, The way I looked at the market was its a new business, upfront Investment then any business that pays back in 3 yrs means you've done ur job. I think too many people dont use this concept with it comes to trading, with a new business you have 2 options, succeed get paid or lose alot or all and file bankruptcy---- hey @ fat tails I'm getting this thread back on point!

100% followed by" with other signals" and no he doesnt use -1000 +1000 I just threw that in to see who knew to respond, Havent spoke to you before, I glad you responded so I could say Hello. Im new to futures.io (formerly BMT) and I'm glad to be around real day in day out traders. I dont know much but I'm learning. Back to my friend setup, His is a very complex setup, and it might not trigger for days or even weeks depending on the market setups. It does work but you can starve on that system

that is a very captivating setup.

and when it does trigger, would you be kind enough to come back and tell us all about it. thx.

It looks like there are no traders who earn enough money to live from their trading efforts.

Therefore this thread has degenerated into a discussion on NYSE Tick levels.

hi again fat tails

sorry that the thread has been off center momentarily.

but are you serious that....

there are no traders who earn enough money to live from their trading efforts....

why or why, did you not bother to warm me about this seemingly impossible task a few decades back....

on the other hand, i am grateful for what i did not know.... otherwise, life would be very much alike numerous others, namely, 9 to 5....

where is the person who challenges those trading for a living... to stand up and be counted....? tried to scroll back but could not find his post. or maybe am just as lost as he is.... in this vast trading world?

seem to recall he/she asks for bank and broker statements for substantiation as well.... to satisfy his curiosity and his search for truth in trading....? some assured respondents would like to know, what the person would be willing to pay for that privilege.... the answer was something like.... i just want to know before investing my time learning how to trade....

oh well, hope he/she have by this time already found his/her proof.... cheers everyone.

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